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  • #2,281
  • Apr 14, 2012 6:55pm Apr 14, 2012 6:55pm
trading ain't easy - it's like riding a bicycle on the autobahn - b warned what u r getting into, lol
  • #2,282
  • Apr 15, 2012 9:37am Apr 15, 2012 9:37am
Quoting premna3
Where can I find the revised indicator?
I would imagine you could find it on publicjud's harddrive somewhere.

I am attaching a simple indicator for anyone who wants a way to get CZ formation alerts. It also will put a box around the current potentially forming CZ and give you a minimum amount of time before a CZ matching your criteria can form. Hopefully this indicator is self explanatory once you try it. The reason the code involves a stringsplit and pointless single loop of an array is because this is code for an eventual multicurrency dash board. I have not had the patience yet to sit down and write the dashboard display code so I figured I would release as is for people that would find the current state useful.
Attached File(s)
File Type: mq4 !CZDashboard_SinglePairAlphaOnly.mq4   9 KB | 820 downloads
  • #2,283
  • Apr 15, 2012 9:41am Apr 15, 2012 9:41am
Quoting forexhard
Gotta love it. After a 5-day climb and a total gain of about 160p (the 140 shown, plus a few more besides), the whole thing comes crashing down right back to the CZ's upper level in just 1 day! Almost to the pip!

Perfect.
That's ok I was just joking. Except about the part where I don't understand these arcs and why they keep eating my profits. Curse them.
  • #2,284
  • Apr 15, 2012 10:01am Apr 15, 2012 10:01am
Quoting Paradox
That's ok I was just joking. Except about the part where I don't understand these arcs and why they keep eating my profits. Curse them.
Paradox, let's play a game:

I hand you a baseball and I tell you that you must toss it 100 times at a target down the way.

But, it's a weird magical baseball, with strange properties. Because 70 to 80 of those ball tosses are going to reverse direction halfway to the target and come back and hit you right between the eyes. OUCH!!!

You don't know which tosses will do this, but you do know that at least 70 of them will.

So then, how do you prepare for this game? Do you want to get hit between the eyes? What do you do? What do you plan for, and how?...
To improve is to change. To perfect, is to change often.
  • #2,285
  • Apr 15, 2012 10:40am Apr 15, 2012 10:40am
Quoting Paradox
I would imagine you could find it on publicjud's harddrive somewhere.

I am attaching a simple indicator for anyone who wants a way to get CZ formation alerts. It also will put a box around the current potentially forming CZ and give you a minimum amount of time before a CZ matching your criteria can form. Hopefully this indicator is self explanatory once you try it. The reason the code involves a stringsplit and pointless single loop of an array is because this is code for an eventual multicurrency dash board. I have not had the patience yet to...
Great job paradox, will be morethan happy to try it.

Cheers
Risk Less Gain More, Trade Less Make More
  • #2,286
  • Apr 15, 2012 12:00pm Apr 15, 2012 12:00pm
Quoting jb68
Hi,

Didn't post here from some time.
You cannot use sq indicator as is. You have to either fix the zero division or to remove the stats part.
My back-tests and optimization doesn't look promising so I didn't spend too much time on this. Year 2010 was almost flat, some small profit on 2011.
My best SL on EurUSD resulted after optimization was 20 pips.

I tried different exit strategies, BE+ Trailing stop MA etc and I couldn't find a winning one.
Agree, exit strategy for optimazation is difficult
  • #2,287
  • Edited Apr 16, 2012 12:37am Apr 15, 2012 8:12pm | Edited Apr 16, 2012 12:37am
I kept the right ones out
And let the wrong ones in
Had an angel of mercy
To see me through all my sin
There were times in my life
When I was going insane
Trying' to walk through the pain

http://i40.tinypic.com/311ucn4.gif

Asian morning just started and some pairs already show some greens. Got some ++ on EU and AU already closed due to tight trailing but won't complain.


Will update later

Cheers

PS : GU got stopped with ++ , UJ still floating minus so far.
Finally UJ got SL -- and took almost all the winning pips. Waiting for the new set up to arise.
Risk Less Gain More, Trade Less Make More
  • #2,288
  • Apr 16, 2012 5:17am Apr 16, 2012 5:17am
I haven't posted here for a while, I am trading this system live forward testing my own version of entries and exits, so I wont post my charts as they may not help new people here.

The wise words I want to pass on that I heard on a training video yesterday i thought I should pass on:

Between your entry and your stop/profit is just market noise, ignore it.

Basically saying leave your trade alone after setting with your money management and entry and exit rules. How often have you exited early or moved your stop etc only to see later that your trade would have been successful.

Think about it.
  • #2,289
  • Apr 16, 2012 5:21am Apr 16, 2012 5:21am
Quoting LarryK
I haven't posted here for a while, I am trading this system live forward testing my own version of entries and exits, so I wont post my charts as they may not help new people here.

The wise words I want to pass on that I heard on a training video yesterday i thought I should pass on:

Between your entry and your stop/profit is just market noise, ignore it.

Basically saying leave your trade alone after setting with your money management and entry and exit rules. How often have you exited early or moved your stop etc only to see later that...
I love it!!! it's so true larry!!!
Risk Less Gain More, Trade Less Make More
  • #2,290
  • Apr 16, 2012 5:25am Apr 16, 2012 5:25am
Quoting LarryK
I haven't posted here for a while, I am trading this system live forward testing my own version of entries and exits, so I wont post my charts as they may not help new people here.

The wise words I want to pass on that I heard on a training video yesterday i thought I should pass on:

Between your entry and your stop/profit is just market noise, ignore it.

Basically saying leave your trade alone after setting with your money management and entry and exit rules. How often have you exited early or moved your stop etc only to see later that...
Concurred !
Forex is my business
  • #2,291
  • Apr 16, 2012 8:19am Apr 16, 2012 8:19am
Quoting Paradox
I would imagine you could find it on publicjud's harddrive somewhere.

I am attaching a simple indicator for anyone who wants a way to get CZ formation alerts. It also will put a box around the current potentially forming CZ and give you a minimum amount of time before a CZ matching your criteria can form. Hopefully this indicator is self explanatory once you try it. The reason the code involves a stringsplit and pointless single loop of an array is because this is code for an eventual multicurrency dash board. I have not had the patience yet...
Easier would be to modify the orginal indicator.
  • #2,292
  • Apr 16, 2012 8:35am Apr 16, 2012 8:35am
Quoting LarryK
Between your entry and your stop/profit is just market noise, ignore it.
I agree. I was taught that you should only move your stop under the following circumstances:

1. When the reason you entered the trade changes. For instance, if you made a trade based on a news event and a later event 'overrode' the original, making it in some way invalid.

2. If you are already in profit and are trailing your stop as a means to exit the trade. I do this with some of my trend following trades where I have no fixed TP.

In my experience, changing your SL or TP mid-trade leads to a worse risk:reward ratio and ultimately lower profits over the long term.

Sue

Edit: I forgot to add - the biggest 'no-no' for me is an early manual exit. I believe your trade should hit your SL or your TP. You should never hit the exit button manually as it leads to nothing but, "if only's"!
  • #2,293
  • Apr 16, 2012 9:57am Apr 16, 2012 9:57am
Hi FH and everybody,
My english is very bad (I am french), and i'm not sure of the rules :
- GU TF 15 mn (only)
- TP = 30 points
- SL = 30 points
- BE SL at + 15 points

Is it right please ?

Thank's a lot
belle soirée
jean-francois
  • #2,294
  • Apr 16, 2012 11:38am Apr 16, 2012 11:38am
Quoting le celte
Hi FH and everybody,
My english is very bad (I am french), and i'm not sure of the rules :
- GU TF 15 mn (only)
- TP = 30 points
- SL = 30 points
- BE SL at + 15 points

Is it right please ?

Thank's a lot
belle soirée
jean-francois
Hello - You need to read through the whole thread, or the first quarter at the very least, to understand the methodology being discussed here. It isn't a simple fixed SL and TP strategy and needs plenty of time and effort to absorb into your trading. For me, it's more than a strategy: it's a way of seeing the market. You need to take what is here and turn it into your own strategy.

I hope that makes some sense to you!

Sue
  • #2,295
  • Apr 16, 2012 1:13pm Apr 16, 2012 1:13pm
Thank's Sue,
I'm sure now my english is too bad ...

Quoting LarryK
Basically saying leave your trade alone after setting with your money management and entry and exit rules. How often have you exited early or moved your stop etc only to see later that your trade would have been successful.
So it's a discretionary strategy without rules ? !

Belle soirée
jf

PS : I have read all the thread. But with my english and with the help of ... Google translation
  • #2,296
  • Apr 17, 2012 3:53am Apr 17, 2012 3:53am
Hi StairStep Breakout Friends!

I come to you today with a question.
Hope our beloved mentor can give some enlightenment, i think it's a valid question.

I present the eur_usd chart yesterday where i missed the move because:

- The entry was going to be made on a inverted hammer, but mostly because there was an extended CZ just ahead. The odds the price stall there were good ones, i thought.

The question is, FH, what importance we must give to the previous extended CZ's, or no importance at all? Since they were too close, i did not believe the breakout, that turned out to be the best one in the past week or so.

Thanks for your time.
S.
Attached Image (click to enlarge)
Click to Enlarge Name: e_u.gif Size: 14 KB
  • #2,297
  • Edited 6:12am Apr 17, 2012 6:01am | Edited 6:12am
Hello - I tightened all my CZ's up over the weekend as per FxH's advice. I also spent a couple of hours marking up strong support and resistance areas off the daily chart to help identify good TP zones.

Woke up this morning to a lovely CZ on AUDJPY (FYI: I had my indicator set to 34 bars and 0.22 ADR for AUDJPY giving around two CZs per week). I actually entered this a couple of pips inside the CZ around 83.32 when the strong bullish bar broke the previous swing high. Take profit was 27 pips (the height of the box). Having the resistance areas marked gave me confidence price would be likely to test the 83.75 area (I marked it with a red horizontal line). It hit TP in about 25 minutes!

Does it get much easier than this? :-)

Sue

Edit: forgot to say, it was, obviously, the long trade I took. Didn't take the short trade as I was fast asleep!
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-04-17AUDJPY.png Size: 24 KB
  • #2,298
  • Apr 17, 2012 6:10am Apr 17, 2012 6:10am
Quoting sconcha
Hi StairStep Breakout Friends!

I come to you today with a question.
Hope our beloved mentor can give some enlightenment, i think it's a valid question.

I present the eur_usd chart yesterday where i missed the move because:

- The entry was going to be made on a inverted hammer, but mostly because there was an extended CZ just ahead. The odds the price stall there were good ones, i thought.

The question is, FH, what importance we must give to the previous extended CZ's, or no importance at all? Since they were too close, i did not believe...
Hello sconcha - I'll leave it to forexhard to give you a definitive answer, but I see these CZs as both indicators of an imminent strong trend, AND target areas. Price is attracted to them because they were obviously an important area for price to linger, otherwise they wouldn't have formed in the first place. So for me they would be a barrier/TP zone to a trade.

Having said that, you seem to have a lot more CZs than I do. I didn't see any of the CZs you have marked. I have my EURUSD set to 30 bars at 0.2 ADR giving around 2 per week.

Sue
  • #2,299
  • Apr 17, 2012 6:25am Apr 17, 2012 6:25am
Hi Sue!

Thanks for the reply.

I don't use SQ indicator, i just draw by hand my CZ's. I do it that way in order to get the hand of it, just like ForexHard started. Yes i am taking the long way, but the way i see it, the prosperous one.

Of course sometimes my CZ's may not be the better ones to trade, but i try to fit them to at least 30 bars x 30 pips. I ignore all the rest. Sometimes the wicks go beyond the CZ, so i am still figuring out it those are valid or not.

Good luck to you i see you are improving really great !

S.
  • #2,300
  • Apr 17, 2012 7:00am Apr 17, 2012 7:00am
Quoting sconcha
Hi Sue!

Thanks for the reply.

I don't use SQ indicator, i just draw by hand my CZ's. I do it that way in order to get the hand of it, just like ForexHard started. Yes i am taking the long way, but the way i see it, the prosperous one.

Of course sometimes my CZ's may not be the better ones to trade, but i try to fit them to at least 30 bars x 30 pips. I ignore all the rest. Sometimes the wicks go beyond the CZ, so i am still figuring out it those are valid or not.

Good luck to you i see you are improving really great !

S.
Hello - It sounds like you are doing the right thing working through the CZs by hand. Sometimes I think that is the better way to trade this system as long as you make sure you draw out really good zones. I'm just playing with the indicator for now to see how it works.

I notice that most of my CZs are quite a bit smaller than 30 pips on most pairs (EURUSD is around 23 pips, USDJPY 19 pips, NZDUSD 20 pips). Maybe making them smaller will help?

Anyway, hopefully FxH will give you his wisdom in the matter. I'm very new to trading this system...but I am starting to love it!

As usual, I don't have a lot of time to trade today, but I'll try and post my results, good or bad, whenever I get a chance.

Good luck with your trading,

Sue
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